Compute MV Corporation's 2021 taxable Income given the following information relating to its year 1 activitles. Also, compute MV's Schedule M-1 assuming that MV's federal Income tax expense for book purposes is \$100.000. Use Exhibit 16-6. - Gross profit from inventory sales of $500,000 (no book-tax differences). - Dividends MV recelved from 25 percent-owned corporation of $100.000 (assume this is also MV's pro rata share of the distributing corporation's earnings). - Expenses other than DRD. charitable contribution (CC), and net operating loss (NOL) are $350.000 (no book-tax differences). - NOL carryover from 2020 of $10.000. - Cash charitable contribution of \$120.000. Assume the charitable donation is a quallfied charitable contribution. Complete this question by entering your answers in the tabs below. Compute MV Corporation's 2021 taxable income given the following information relating to its year 1 activities. (Megative amounts should be indicated by a minus sign. Leave no answer blank. Enter zero if applicable.) Compute MV Corporation's 2021 taxable income given the following Information relating to its year 1 activities. Also. compute MV's Schedule M-1 assuming that MV's federal Income tax expense for book purposes is $100,000. Use Exhibit 16-6. - Gross profit from inventory sales of $500.000 (no book-tax differences). - Dividends MV recelved from 25 percent-owned corporation of $100.000 (assume this is also MV's pro rata share of the distributing corporationis earnings). - Expenses other than DRD, charitable contribution (CC), and net operating loss (NOL) are $350,000 (no book-tax differences). - NOL carryover from 2020 of $10.000. - Cash charitable contribution of $120.000. Assume the charitable donation is a qualified charitable contribution. (x) Answer is not complete. Complete this question by entering your answers in the tabs below. Compute MV's Schedule M-1 assuming that MV's federal income tax expense for book purposes is $100,000. (Enter all values as positive numbers.) Compute MV Corporation's 2021 taxable Income given the following information relating to its year 1 activitles. Also, compute MV's Schedule M-1 assuming that MV's federal Income tax expense for book purposes is \$100.000. Use Exhibit 16-6. - Gross profit from inventory sales of $500,000 (no book-tax differences). - Dividends MV recelved from 25 percent-owned corporation of $100.000 (assume this is also MV's pro rata share of the distributing corporation's earnings). - Expenses other than DRD. charitable contribution (CC), and net operating loss (NOL) are $350.000 (no book-tax differences). - NOL carryover from 2020 of $10.000. - Cash charitable contribution of \$120.000. Assume the charitable donation is a quallfied charitable contribution. Complete this question by entering your answers in the tabs below. Compute MV Corporation's 2021 taxable income given the following information relating to its year 1 activities. (Megative amounts should be indicated by a minus sign. Leave no answer blank. Enter zero if applicable.) Compute MV Corporation's 2021 taxable income given the following Information relating to its year 1 activities. Also. compute MV's Schedule M-1 assuming that MV's federal Income tax expense for book purposes is $100,000. Use Exhibit 16-6. - Gross profit from inventory sales of $500.000 (no book-tax differences). - Dividends MV recelved from 25 percent-owned corporation of $100.000 (assume this is also MV's pro rata share of the distributing corporationis earnings). - Expenses other than DRD, charitable contribution (CC), and net operating loss (NOL) are $350,000 (no book-tax differences). - NOL carryover from 2020 of $10.000. - Cash charitable contribution of $120.000. Assume the charitable donation is a qualified charitable contribution. (x) Answer is not complete. Complete this question by entering your answers in the tabs below. Compute MV's Schedule M-1 assuming that MV's federal income tax expense for book purposes is $100,000. (Enter all values as positive numbers.)